Reetu | Dec 17, 2022 | Views 43477
GST Refund to unregistered persons: GST Council proposes amendment in CGST Rules to direct procedure
The GST Council 48th Meet held in National Capital Delhi on today i.e. 17th December through virtual mode. Smt. Nirmala Sitharaman, the Union Finance Minister, chairs the meeting, where the Finance Ministers of the states/Union Territories of India were presented.
The Council meeting has proposed amendment in CGST Rules to direct procedure towards GST refund to unregistered persons.
GST Council discovered, “There is no procedure for claim of refund of tax borne by the unregistered buyers in cases where the contract/ agreement for supply of services, like construction of flat/house and long-term insurance policy, is cancelled and the time period of issuance of credit note by the concerned supplier is over.”
The Council proposed amending the CGST Rules, 2017, as well as issuing a circular, to regulate the procedure for filing refund applications by unregistered buyers in such circumstances.
The GST Council has made several suggestions, including modifications to GST tax rates, trade facilitation measures, and GST compliance streamlining initiatives.
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